Located on the Atuel River in the province of Mendoza, HINISA operates the Los Nihuiles System, consisting of three dams, three hydroelectric power plants (Nihuil I, Nihuil II and Nihuil III) and a compensator dam. With a 265 MW installed capacity, representing 0.6% of Argentina’s total capacity, HINISA covers approximately 40 km, and its height ranges between 754 m and 1,251 m above sea level. From 1990 to 2024, its historical average annual generation was 781 GWh, with a record high of 1,250 GWh in 2006 and a record low of 428 GWh in 2022.
HINISA began its 30-year concession for the generation, sale and commercialization of electricity from the Los Nihuiles hydroelectric system in June 1994, later extended until June 1, 2025. Pampa has a 52% direct stake in HINISA’s capital stock.
On January 11, 2025, a storm inflicted severe damage in the Atuel Canyon, leaving the Nihuil II and Nihuil III power plants out of service and inoperative. Insurance under the Operational All Risks policy was activated, notifying authorities and assessing the affected equipment’s condition.
*Only available in spanish
The following chart shows certain relevant statistical data on HINISA:
| 2023 | 2024 | |
|---|---|---|
| Net Generation (GWh) | 543 | 857 |
| Purchases of Energy (GWh) | 1 | – |
| Total Energy Sales (GWh) | 544 | 857 |
| Average Price (US$/MWh) | 17 | 13 |
| Average Gross Profit (US$/MWh) | 1 | 5 |
Note: Gross Margin before depreciation and amortization.
Technical Data
| Plant | Unit | Installed Capacity (MW) | Start-Up | Type of Unit | |
|---|---|---|---|---|---|
| HINISA | NIH1HI | 74 | 265 | 1994 | Hydroelectric |
| NIH2HI | 139 | ||||
| NIH2HI | 52 | ||||
